It's human nature to make mistakes. However, if you find out that you’ve made a mistake in your tax return, don’t panic! You can make changes within three days of filing the return. But if you miss this deadline, what do you do then? With the help of a tax accountant...
Capital gains tax is a tax you pay on an asset you sell or dispose of and has increased value. What is taxed is the increased value of the asset and not the entire amount you receive. Some assets are tax-free, meaning you will not incur Capital Gains tax if your total...
With NIC and dividend tax changes set to take effect in April 2022, its important to understand who this levy would affect. For starters, employers, employees, and self-employed should expect an increase in NIC by 1.25%, shareholders or directors should expect a hike...
HM Revenue and Customs (HMRC) has advised that the 5% late payment penalty for self-assessment taxpayers should be dropped if they pay their taxes or arrange a payment plan by April 1. The deadline for payment of self-assessment returns is generally January 31, and...